More on the Ted Stevens indictment

First, help Democrat Mark Begich win this Senate seat. Fortuitous timing that we posted his video and ActBlue page almost at the same time the indictment was announced.

Markos and his colleagues are sorting through what this means on the Republican side -- both politically and legally -- in upcoming election.

Also, looks like Stevens will lose his coveted leadership perch on the Senate Commerce Committee:

NBC's Ken Strickland adds that, per Senate GOP caucus rules, if a member is indicted, he or she can no longer serve as chairman or ranking member of a committee until the case is resolved. Upon conviction, the chair/ranking member would automatically be replaced.

The Anchorage Daily News reports on the details of the news conference announcing the indictments:

With the felony indictment, Stevens, an icon in Alaska politics, becomes by far the most powerful politician charged in a broad investigation into corruption of Alaska public officials that began more than four years ago that has so far led to convictions of three state legislators and charges against two others.

At a news conference in Washington this morning, Matthew Friedrich, acting assistant attorney general for the Justice Department's criminal division, said Stevens would be allowed to turn himself in. Stevens' attorney, Brendan Sullivan of Washington, was notified of the indictment this morning, Friedrich said.

The seven-count indictment charges Stevens with making false statements by failing to disclose things of value he received from Veco Corp., an Alaska-based oil services company, and from its chairman, Bill Allen, over an eight-year period. The indictment charges that those included substantial improvements to Stevens' home in Girdwood; automobile exchanges in which he received new vehicles worth far more than the old ones; and household goods.

At the same time, according to the indictment, Stevens received solicitations for official actions from Allen and other Veco employees, and used his office on behalf of Veco.

The federal Ethics in Government Act requires all senators to file financial disclosures statements detailing their transactions during the previous calendar year, including the disclosure of gifts above a specified value and all liabilities greater than $10,000.

At the news conference, Friedrich said the case involved false disclosures, not bribery, and no specific actions by Stevens in return for the gifts were alleged. But the indictments also says that Veco had requests for Stevens, and that Stevens and his staff responded.

The ADN also links back to its article from a year ago about the FBI raid on Stevens' home.

And, here's a pdf version of the indictment.